From today the Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - will begin accepting licensing applications for financial institution licences under the Conduct of Financial Institutions (CoFI) regime. Under CoFI, about 100 registered banks, licensed insurers, and licensed non-bank deposit takers such as credit unions will need to be licensed by the FMA to provide financial services to consumers. CoFI, which comes into force on 31 March 2025, requires these institutions to put fair treatment at the heart of their business.

https://www.miragenews.com/cofi-licensing-begins-1052867/

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